Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Smith; in the matter of Matrix Metals Limited (in liquidation) [2011] FCA 1399 Citation: Smith; in the matter of Matrix Metals Limited (in liquidation) [2011] FCA 1399
Parties: VINCENT ANTHONY SMITH AND JUSTIN DENIS WALSH IN THEIR CAPACITY AS JOINT AND SEVERAL LIQUIDATORS OF MATRIX METALS LIMITED (IN LIQUIDATION) (SUBJECT TO DEED OF COMPANY ARRANGEMENT) ACN 082 593 235; VINCENT ANTHONY SMITH AND JUSTIN DENIS WALSH IN THEIR SEPARATE CAPACITY AS JOINT AND SEVERAL DEED ADMINISTRATORS OF MATRIX METALS LIMITED (IN LIQUIDATION) (SUBJECT TO DEED OF COMPANY ARRANGEMENT) ACN 082 593 235
File number: WAD 246 of 2010
Judge: MCKERRACHER J
Date of judgment: 7 December 2011
Catchwords: CORPORATIONS – application by liquidators for order terminating winding up – liquidators had previously appointed themselves administrators pursuant to leave of court – deed of company arrangement (DOCA) entered into – recapitalisation of company – interests of existing and future creditors, liquidators, contributories and the public – relevant considerations – considerations of public interest and commercial morality – solvency of the company – the effect of granting an order terminating the winding up – effect of the deed of company arrangement – evidence of misconduct – s 439A report to creditors – Corporations Act 2001 (Cth) s 482
Legislation: Corporations Act 2001 (Cth) ss 436B(2), 437C(1), 482
Cases cited: Re Calgary and Edmonton Land Co Ltd (in liq) [1975] 1 All ER 1046 Re Data Homes Pty Ltd [1972] 2 NSWLR 22 Re El-Fahkri, in the matter of Elfah Pty Ltd (in liq) [2002] FCA 1469 Re King & I Pty Ltd [2007] FCA 2085 Mercy & Sons Pty Ltd v Wanari Pty Ltd (2000) 157 FLR 107 Re Nardell Coal Corporation Pty Ltd (2004) 182 FLR 290 Rupert Co Ltd v Chameleon Mining NL (in liq) (2006) 24 ACLC 635 Re Skay Fashions Pty Ltd (in liq) (1986) 10 ACLR 743 Re Telescriptor Syndicate Ltd [1903] 2 Ch 174 Re Terraplanet Ltd (in liq) (No 2) [2008] FCA 582
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